{"id":8956,"date":"2023-03-28T15:06:36","date_gmt":"2023-03-28T15:06:36","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/asda-offers-to-sell-13-petrol-stations-to-secure-611m-co-op-deal-clearance\/"},"modified":"2023-03-28T15:06:36","modified_gmt":"2023-03-28T15:06:36","slug":"asda-offers-to-sell-13-petrol-stations-to-secure-611m-co-op-deal-clearance","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/asda-offers-to-sell-13-petrol-stations-to-secure-611m-co-op-deal-clearance\/","title":{"rendered":"Asda offers to sell 13 petrol stations to secure \u00a3611m Co-op deal clearance"},"content":{"rendered":"

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\/\/<\/span> Asda looking to sell 13 petrol stations with adjoining grocery stores<\/h6>\n
\/\/ <\/span>The grocer wants to gain approval from CMA amid concerns about its \u00a3600m takeover of Co-op forecourts<\/h6>\n\n

Asda has offered to sell 13 petrol stations with adjoining grocery stores to overcome competition concerns over its \u00a3611 million takeover of Co-op petrol forecourts.<\/p>\n

The grocer, which is owned by brothers Zuber and Mohsin Issa and private equity firm TDR Capital, purchased the Co-op\u2019s 132 petrol stations and attached stores last October.<\/p>\n

The CMA\u00a0ruled this month that the deal could lead to higher prices or less choice and ordered Asda to address its concerns to avoid an in-depth \u201cPhase 2\u201d investigation.<\/p>\n\n

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The regulator welcomed Asda\u2019s proposition on Tuesday and said there are \u201creasonable grounds for believing that the offer, or a modified version of it, might be acceptable\u201d.<\/p>\n

The CMA now has until the end of May to weigh the offer and make a final decision.<\/p>\n

In August, Co-op first revealed plans to sell its 132 petrol stations and attached convenience stores in a bid to bolster its finances.<\/p>\n<\/p><\/div>\n